Imputed Notice


Also found in: Financial.

Imputed Notice

Information regarding particular facts or circumstances that the law permits to affect the legal rights of a person who has no firsthand knowledge of them but who should have learned of them because his or her agent or representative had direct knowledge of that information and a duty to report it to him or her.

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60) Equitable notice, as discussed in Part II, encompasses actual notice, constructive notice and imputed notice.
Equally uncertain, although not as often addressed, is whether imputed notice should suffice for knowing receipt liability.
One reason why there is uncertainty as to whether constructive notice and imputed notice suffice for knowing receipt liability is because there are two divergent rationales for recipient liability that run through the case law: (66)
If recipient liability is primarily concerned with the first rationale, then applying constructive and imputed notice by analogy is justifiable.
In contemporary contexts defined by a regulatory statute, some courts have imputed notice of facts known by a principal downward to an agent when the principal has a duty to transmit all material facts to the agent and the statute's regulatory purpose would be undermined by limited disclosure to agents.